The UK government is developing a fresh investor visa scheme aimed at attracting affluent global investors to stimulate growth in key sectors such as artificial intelligence, clean energy, and life sciences, government sources revealed this week.
The initiative is part of a wider effort to rejuvenate foreign direct investment and strengthen the UK’s position as a global innovation leader, reports Bloomberg.
This represents a significant policy shift following the 2022 cancellation of the Tier 1 “golden visa,” which was discontinued due to concerns over money laundering and national security.
The new scheme is expected to feature robust vetting procedures, enhanced financial transparency, and clearly defined, sector-specific investment requirements.
“The aim is to attract legitimate investors who can help drive growth in areas that are crucial to the UK’s economic future,” a government official told The Times.
The Home Office previously scrapped the golden visa over fears it was being exploited for illicit financial activities.
The proposed plan reflects a more cautious and strategic approach, shaped by the shortcomings of its predecessor, and supports the government’s broader goal of aligning immigration policy with economic priorities.
As part of the new framework, prospective investors will need to demonstrate the lawful origin of their funds and provide evidence of meaningful economic contributions.
The UK joins a growing list of countries, including Portugal and Greece, that are re-evaluating their investor visa programs, even as the European Commission continues to warn against potential risks related to corruption and erosion of public trust.
